Think of your business plan as a map or blueprint that will guide your business from the start-up phase through establishment and eventually business growth.
There are many reasons why you need a business plan, although these reasons vary by the type of business you are starting and how you intend to use your business plan.
And let's not forget about all-in-one online tools like the SBA Business Plan Tool and services like Rocket Lawyer that take away a lot of the time required to format and organize your business plan.
As you get started with your small business plan, explore these additional business planning tools to see how you can streamline the process even further.
For business planning counseling, you can contact SCORE Chicago or a Small Business Development Center.
With more than 100 counselors, you have access to experts in many skill areas and numerous industries.
A one-page business plan is a streamlined and brief business plan that you can use as-is or as a starting point for a traditional business plan.
While this is a leaner version of the traditional business plan, you will still need to gather information that is specific to your business in order to create a plan that is truly useful for you.
If you are thinking about starting a small business, you most likely already know what a business plan is and have heard that you need one.
But do you truly understand the purpose of a business plan?